Essay No. 30:
Economy Of Pakistan: A trendsetter in Asia up to the sixties, economic management in Pakistan has steadily deteriorated to the point where the economy has, for the past few decades, lurched from one financial crisis to the next. At the heart of the problem has been the poor management of public finances and deep-seated resolved structural issues in the economy that bad management and poor governance has exacerbated.
The consequences of this secular decline in economic governance are plain to see: macroeconomic instability, high inflation, poor public services, criminal neglect of the social sectors, widespread corruption, crippling power outages, growing unemployment, deepening poverty and a deteriorating debt profile.
The poor economic development goes to poor performance in agriculture industry and social sector. The energy crisis has almost destroyed the small industry. The production of mega industrial concerns has reduced considerably and hundreds of industrial units have come to standstill.
Mass scale unemployment has created a way of unrest in society. The core sector of economic prosperity is agricultural and industry. The fault lines that exist in these sectors are bound to affect the allied business concerns.
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